Cnergyico Pk anticipates investment of over $1bn in refinery upgradation
Cnergyico Pk Limited, formerly known as Byco Petroleum Pakistan Limited, sees its anticipated investment at over $1 billion as it upgrades its refineries to produce Euro V standards-compliant gasoline and diesel.
The refinery communicated the development in a notice to the Pakistan Stock Exchange (PSX) on Friday.
“We are pleased to inform you that the Government of Pakistan has recently approved the amendments after consultation with all refineries in the earlier approved ‘Pakistan Oil Refining Policy for Upgradation of Existing/Brownfield Refineries, 2023’.
“Cnergyico Pk Limited already assured its commitment in its previous disclosures … to upgrade both refineries to manufacture Euro V standards compliant gasoline and diesel, while concurrently reducing Fuel Oil production.
